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Hungarian feed company invests in Laos
Hungary's Vitafort is building three feed mix plants and other investments worth a combined US$9 million in Laos, CEO Zoltán Kulik recently said.
The biggest of the plants, built at a cost of US$2.2 million, is already operating, Kulik said. The plant has capacity to turn out an annual 4,000 tons of feed, he added.
The next plant, to cost US$1.5 million, will be inaugurated in the middle of October. Vitafort expects to inaugurate a fish farm by the end of the year and the third feed plant as well as a slaughter house by the end of March 2011.
The projects were financed with a US$8.6m assistance loan from the state of Hungary to Laos, Kulik said. The agreement on the interest-free 20-year loan, with a seven-year grace period, was reached in March, after four years of work, he added. Vitafort controls 19 percent of Hungary's feed market, selling an annual 730,000 tons.
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